Indian Stock Market Today:
- Sensex opened 676.76 points higher at 77,442.68.
- Nifty gained 185.05 points to reach 24,170.40.
- Thirteen of 16 major sectoral indices opened higher.
- Nifty IT rose approximately 2.3%.
- The IT index gained around 8.4% over three sessions.
- Mid-cap and small-cap indices advanced approximately 0.6%.
- FIIs bought a net ₹755.33 crore on July 28.
- DIIs purchased a net ₹1,664.16 crore.
- Brent crude rebounded to approximately $87.39 a barrel.
- Nifty-company earnings were tracking about 12% year-on-year growth.
The Sensex and Nifty opened sharply higher on Wednesday as buying in information-technology stocks broadened to other parts of the market. Positive institutional flows, a recovery in corporate earnings and gains in mid-cap and small-cap shares supported sentiment ahead of the US Federal Reserve’s interest-rate decision.
At 9:16 AM IST, the NSE Nifty 50 rose 185.05 points, or 0.77%, to 24,170.40, while the BSE Sensex advanced 676.76 points, or 0.88%, to 77,442.68. Thirteen of the 16 major sectoral indices traded higher, while the Nifty mid-cap and small-cap indices gained about 0.6% each.
The rebound is broader than Tuesday’s IT-heavy market, but a 4%-plus jump in crude oil following renewed West Asian tensions presents a fresh test for the rally.
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Why is the stock market rising today?
IT rally extends for a third session
The Nifty IT index advanced approximately 2.3%, taking its cumulative gain over three sessions to around 8.4%.
Indian technology-services companies have attracted buying after Jefferies upgraded its sector view from “underweight” to “neutral.” Investors are also differentiating Indian software exporters from overseas semiconductor and pure-play AI companies that require exceptionally high capital expenditure.
TCS, Infosys, HCL Technologies, Wipro, Tech Mahindra, Mphasis and Coforge remain central to this rotation.
However, the rally has moved quickly. An 8.4% sectoral rise over three sessions raises the possibility of profit-booking, especially if the Federal Reserve takes a more hawkish position or warns that inflation may require higher interest rates.
Market breadth improves after Tuesday’s narrow session
Tuesday’s index appeared stable even though 12 of the 16 major sectors declined. On Wednesday, that relationship reversed: 13 of 16 sectors opened higher, while mid-cap and small-cap indices rose approximately 0.6%.
This is an improvement because the market is no longer relying entirely on IT shares to hold up the benchmarks.
A broad opening does not automatically guarantee a strong close. The next test is whether the advance-decline ratio and sectoral participation remain positive after the initial hour.
FIIs and DIIs both turned net buyers
Provisional combined exchange data for July 28 showed foreign institutional investors as net buyers of ₹755.33 crore, while domestic institutional investors purchased a net ₹1,664.16 crore.
Together, the two institutional categories recorded net purchases of approximately ₹2,419.49 crore.
This is meaningfully different from sessions when domestic institutions were merely absorbing foreign selling. Both groups being net buyers points to better underlying demand, although one session is insufficient to establish a durable flow reversal.
Also Read | Indian Stock Market Today: 5 Reasons Sensex Is Rising
Crude oil rebounds: Why the rally still faces a risk
Brent crude climbed by more than $3 to approximately $87.39 per barrel, while WTI rose towards $82.31. Oil rebounded after an escalation in US-Iran tensions, including reported US-Saudi strikes in Iraq and Iranian missile activity directed at US targets.
A reported 3.3-million-barrel decline in US crude inventories also supported prices, although the market was awaiting official inventory data.
Reuters’ July 29 oil report provides the international reference prices.
What rising crude means for Indian investors
A sustained oil rebound can affect India through:
- A higher import bill
- Renewed inflation pressure
- Weakness in the rupee
- Higher transport and manufacturing costs
- Pressure on government finances and the current account
Airlines, paints, tyres, logistics, cement and oil-marketing companies are particularly sensitive to fuel and crude-linked costs.
Upstream producers such as ONGC and Oil India may benefit from higher realisations, but the effect depends on the duration of the oil move, domestic pricing and government policy.
The key threshold is not a single intraday spike. Brent remaining below $90 would keep the macroeconomic risk relatively contained; a sustained move above $90 would require the market to reassess inflation and margin assumptions.
Is India’s earnings recovery becoming stronger?
One of the most important market developments is emerging beneath the daily index movement.
According to Spark Capital’s analysis reported by Reuters, earnings of Nifty companies were tracking approximately 12% year-on-year growth for the June quarter—around three percentage points above expectations. Energy, metals and automobiles were among the sectors supporting the improvement.
That is encouraging, but the broader backdrop remains challenging:
- Nifty was still approximately 8% lower in 2026 before Wednesday’s session.
- The index was around 9% below its December 2025 peak.
- Foreign investors withdrew approximately $29.3 billion during the first half of 2026.
- Oil volatility and concerns about insufficient monsoon rainfall remain risks.
The earnings recovery therefore needs to persist beyond one quarter. Reuters’ earnings analysis indicates that banking, energy, metals and industrial activity have helped offset weakness elsewhere.
News4Bharat POV
Wednesday’s opening addresses one weakness visible on Tuesday: market participation has expanded beyond IT. Thirteen of 16 sectors advanced, mid-caps and small-caps joined the rally, and both foreign and domestic institutions were net buyers in the previous session.
That makes the move more credible than an index rise supported by one sector.
But crude’s rebound creates an important contradiction. Indian equities are pricing stronger earnings and better institutional flows at the same time as the country’s most important imported commodity becomes expensive again.
Index and sectoral figures are opening-market readings and may change during the session. FII-DII data is provisional for July 28.
